10 Challenges That Market Research Companies Face
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Market Research Market research companies tussle with numerous challenges. These can be related to methods, clients, results, technologies, differentiation, quality, internal skills, old and new methods and communication.
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Challenges Eminenture.com
1. Methods • Messy and clumsy data. • Low response rate of research resources. • Juggling with the utility of tools. • Privacy and security create hurdle. Eminenture.com
2. Clients • Client’s expectation of quick research. • Low budget for thorough research. • Seduction of high-tech solutions. • Quick changes in their desire. • Wrong analysis by client himself. Eminenture.com
3. Results • Lacking executable insights. • Missing deadlines of delivering the report. • Hollow promises and low-quality work frame. Eminenture.com
4. IT Technologies • Ignorant of IT tricks for data handling. • Clunky result via mobile technologies. • No real-time information. • Puzzling social media.
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5. How To Differ • Tougher to demonstrate unique value. • Tougher to serve lesser known data. • Tough to meet relevancy. • Avoiding commoditization.
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6. Take Care Of Quality • Representation of samples is tough. • Respondents are incorrect and dubious. • Quantum of errors is unmentioned. • Shoddy data gotten at cheaper price.
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7. Employed Internal Talent • Lacking experience and expertise. • No critical thinking. • Emphasizing quantity rather than quality. • Client devalues market research.
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8. Tussle Between Old And New • Juggling between tradition and innovation. • Traditional methods fulfill no need. • Innovative methods are puzzling. Eminenture.com
9. Big Companies Versus Small Ones
• Biggies can afford fat funds. • Quality is beaten when lacking funds. • Speedy research is what both wants. • Speedy research can mar quality.
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10. Communication Problem • How to conclude customers’ behavior. • How to utilize it. • How to keep it unbiased and authentic. • Lacking customers’ engagement.
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